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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 26 April 22
CHINA'S APPETITE FOR BAUXITE HITS NEW RECORD AS Q1 IMPORTS JUMP 15.4% Y/Y - BIMCO
Bauxite shipments arriving in China hit new record levels in the first quarter of 2022 and grew at an average annual rate of 12.8% between 2017 and ...
Tuesday, 26 April 22
INDIA'S COAL IMPORTS ARE SHIFTING, THERMAL MORE THAN COKING - REUTERS
India’s coal imports are starting to reflect shifting world trade and pricing dynamics in the wake of Russia’s invasion of neighbouring ...
Monday, 18 April 22
GERMAN COAL IMPORTERS EXPECT A BRIEF SPIKE IN PRICES ON EU BAN - REUTERS
A European Union embargo on Russian coal imports will push up prices in the short term before alternative supplies become available to steady the c ...
Monday, 18 April 22
FINNISH 'LOOPHOLES' ALLOW IMPORTS OF RUSSIAN COAL AND OIL TO CONTINUE - EURONEWS
Activists in Finland are calling for the government to clamp down faster on state-owned companies that continue to import raw materials from Russia ...
Monday, 18 April 22
GOVT IN DISCUSSION WITH WORLD BANK ON FRAMEWORK FOR COAL MINE CLOSURE - BUSINESS STANDARD
The coal ministry is in discussions with the World Bank for collaboration on the mine closure framework, a government official said on Wednesday.
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- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- MS Steel International - UAE
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- PTC India Limited - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
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